The trial balance before adjustment of Concord Company reports the following balances: Dr. Cr.
Accounts receivable $265,000
Allowance for doubtful accounts $2,480
Sales (all on credit) 1,000,000
Sales returns and allowances 48,000

Required:
Prepare the entry for estimated bad debts assuming that doubtful accounts are estimated to be 11% of gross accounts receivable.

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

The different concepts in the architecture operating model are aligned with how the business chooses to integrate and standardize with an enterprise solution. in the the technology solution shares data across the enterprise.

Your subscription to investing wisely weekly is about to expire. you plan to subscribe to the magazine for the rest of your life, and you can renew it by paying $85 annually, beginning immediately, or you can get a lifetime subscription for $620, also payable immediately. assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?